Trevi Therapeutics initiated with a Buy at B. Riley

B. Riley initiated coverage of Trevi Therapeutics with a Buy rating and $6 price target. The analyst views Trevi as a "deep value play" in the idiopathic pulmonary fibrosis chronic cough space, with the shares currently trading below the company’s cash of $2 per share. The market undervalues the "impressive" clinical datasets being generated from Trevi ‘s lead program, Haduvio, in ongoing mid-stage development, the analyst tells investors in a research note.